Canadian drugmaker Apotex unveils $184m US expansion plan
Canada-based pharmaceutical firm Apotex said it will invest $184m to expand its facilities in South Florida, US, and create 150 new jobs.
Plans include the development of a new R&D center and advanced manufacturing and packaging facility that will serve as the US headquarters for Apotex and the US offices for Apobiologix, the company’s biosimilar unit.
Claimed to be one of the largest projects in South Florida, the new site will help Apotex to serve customers in the crucial US market and improve access to Latin America.
The site is covering the packaging operations of Aveva Drug Delivery Systems. Construction on the facility is expected to complete in early 2019.
Apotex said its significant investment reinforces the success that Greater Fort Lauderdale, Broward County, and the State of Florida have achieved in attracting the world's innovative life science companies.
Apotex CEO and president Jeremy Desai said: "Expanding our footprint in the U.S. is a central component of our strategy for global growth and reflects the critical importance of the U.S. and Latin American markets to our success, as well as our confidence in the future of the American manufacturing and biopharmaceutical sector.
"With generic and biosimilar medicines playing an increasingly vital role in reducing the cost of drugs, Apotex will continue making strategic investments in R&D and American manufacturing to deliver high-quality, affordable medicine to patients, healthcare providers and stakeholders in the U.S. and around the world.”
With around 10,000 employees and $2bn annual sales, Apotex produces 300 medicines in 4,000 dosages and formats that are distributed in around 115 countries.
Image: Apotex warehouse in Etobicoke, Canada. Photo: courtesy of Tom Mahar.